ARMs accounted for 10.7% of mortgage applications last week.

Prices were up 5.6% on an annual basis in August, according to FHFA.

After a solo effort by the OCC in 2020 that was eventually rescinded, federal banking regulators jointly approved changes to requirements under the Community Reinvestment Act. The standards have largely been untouched since 1995.

Section 1033 of the Dodd-Frank Act directed the CFPB to establish financial data-sharing rules. More than 13 years after the DFA was signed into law, the CFPB issued a proposed rule to carry out the 1033 mandate. The rule aims to facilitate open banking.

A split among circuit courts prompted the Supreme Court to take up a case involving banks and mortgage escrow accounts. The dispute centers on federal preemption of state requirements for financial institutions to make interest payments on funds in mortgage escrow accounts.

A Texas district court expanded its injunction against the CFPB’s small-business lending data collection requirements. Meanwhile, the Senate voted to overturn the rule though President Biden threatened a veto.

Conventional rates near 8% might be the order of the day, at least for a few more quarters.

Underwriting trends largely held steady for refis in the third quarter...

Lenders gravitated toward lower loan-to-value ratios and higher credit scores with their deliveries to the GSEs in the third quarter.

NMSI lost an appeal of a lawsuit brought by two former employees regarding compensation. The dispute centered on whether email correspondence was sufficient to modify an employment contract.